News & Media
2021-05-24
The Swiss Financial Market Supervisory Authority FINMA is updating the procedure of the online identification using the NFC verification by scanning the chip embedded in biometric identity documents.
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- Further participation in IMF’s NAB approved by Swiss Federal Council
2017-02-17 |
News & Media
Further participation in IMF’s NAB approved by Swiss Federal Council
On 15 February 2017, the Swiss Federal Council approved Switzerland's continued participation in the IMF's New Arrangements to Borrow (NAB).
Being part of the IMF's financial safety net, the NAB can be activated in serious crisis situations. Thus, 38 contracting countries or their central banks stand ready to provide the IMF with additional funds of up to CHF 250 billion. In November 2016, the IMF renewed the NAB Decision for further five years from 2017 to 2022.
On its part, the Federal Council has resolved to continue Switzerland's participation in the NAB for the mentioned period. The Swiss National Bank (SNB) will continue to participate in the NAB with a maximum credit line of CHF 7.7 billion.
In addition to the regular IMF resources consisting of the member countries' quotas, the NAB resources form the IMF's financial safety net for crises that pose a threat to the international monetary and financial system. The NAB resources can be activated only when the regular IMF resources are insufficient for crisis resolution.
Legal disclaimer. This article does not constitute legal advice and does not establish an attorney-client relationship. The article should be used for informational purposes only.
News & Media
2021-04-07
The publishing of this case report confirms FINMA's accountability obligations regarding its enforcement activities. The case report includes anonymized and generalized cases which were concluded with a court decision.
News & Media
2021-04-06
Bern, April 04, 2021 – The Swiss Institute of Intellectual Property (IPI) took an active role in 280 cases of “Swissness” excessive use in 2020. The IPI controls the use of the Swiss national emblem and destroys such goods during the customs examination. Now private and high officials start working together to control the “Swissness” fare dodger abroad.
News & Media
2020-12-15
The Swiss Financial Market Supervisory Authority FINMA recommends that the supervised parties affected by the LIBOR replacement sign the new Fallback Protocol of the International Swaps and Derivatives Association (ISDA) in the shortest time possible.
